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Ladakh ranked third in all UTs in implementing PM SVANidhi Yojana

Last Updated on November 25, 2020 at 11:02 pm

Ministry of Housing and Urban Affairs has ranked the performance of Ladakh in top three Union Territories in implementing PM Street vendors Nidhi Yojana during the review meeting chaired by Prime Minister on PRAGATI.

The PM SVANidhi Scheme was launched on 1 June 2020, as a component of Atma-Nirbhar Bharat to support the Street vendors due to adverse effect of COVID-19. The scheme aims to facilitate collateral free working capital loan up to Rs.10,000 of one year tenure; incentivise regular repayment through interest subsidy at 7% per annum and reward digital transactions by cash back up to Rs.1200 per year. 

The scheme targets to cover 50 lakh street vendors in the whole country by March 2022. 

As part of the scheme Ladakh administration and both the Autonomous Hill Development Councils made special efforts to provide the benefit of the scheme to all the Street Vendors of Leh and Kargil cities. All the eligible street vendors have been provided SVANidhi cards by achieving 100% target.

Lot of street vendors have now used their cards for drawing loan up to Rs.10,000 for as a capital support to their small businesses.

Lieutenant Governor UT Ladakh RK Mathur has conveyed his appreciation to the team of Housing and Urban Development department for making exceptional progress and asked them to provide all support to the Street vendors for running their businesses smoothly.

MP Ladakh Jamyang Tsering Namgyal, who himself has been a forerunner in spreading awareness of the scheme has also conveyed his appreciation to the administration.

The meeting was attended by Advisor Umang Narula, Commissioner Secretary HUDD Ajeet Kumar Sahu, Divisional Commissioner Saugat Biswas and Administrative Secretary Ladakh Ravinder Kumar.